THE CHINA MAIL, THURSDAY, AUGUST 18, 1955.
TRADE and COMMERCE SECTION
Page
BRITAIN EXPECTING A SLUMP Saner US Cotton
U.S. To Build
A Big Helium Plant
Now Yurk. Aug. 17.
of
of
The U.S. Bureau
will soan call for Mines bids for the construction A 30,000,000 hellum plaut at Exell, Texas, to increase the output of this light
weight, non-inflammable
zas by 50 per cent.
WHE a rating of 100,- 000,000 cubic fect
of
helium annually, the new plant
ruise would
the to 23- 300,000,000
Bureau's capacity
proximately
cubic feet.
The new installation will probably enable the Bureau
to meet demands for hellum
until 1959 or 1960.
After that, still another
plant may be required, China Mall Special
Butler's Disclosure In
U.K. Interest
House Economic Debate In Uranium
WEST
EUROPEAN SURVEY
By-T. C. Hillinan
London, Aug. 17.
Biggest event of Britain's July was the shadowy figure of Chancellor of Exchequer, Mr R. A. Butler, making a shadowy speech in the House of Commons on Britain's economy and the plans of the Cabinet.
This was on Monday, July 25-a day in advance of his original plan-and he employed all his usual understate- ment to make it plain that Britain's economy was in some danger.
Under prodding opperition he
from
to
are
the drastically, and is urging local | below the Korean war level "but
on a much more healthy basis." citel make it governments and industry crystal clear that he had no postpone their new invesiment Exports during the first half of
par sehenues, changes which intention of lowering the
throwing Its possible withouf value of sterilng
from
vertible into gold until inter-
present US$2.80 und no inten-people out of work. tion of making sterling con-
Ten years ago Lord Beveridge shudders through the
of "full
World Cotton hate conditions bad changed. sent
British business work by ad-
Markets
New York, Aust. 17. Narrowly
price irregular
21 slow changes accompanied trade in cotton futures today.
But
iT
general, Mr Butler vancing
the Idea
this year were up 21 per cent over last year's equivalent total,
"The big queslon mark facing the economy is the joint cam÷ palgn of the Catholic and Socialist trade unions for higher wages and a five-day week. At
Canberra, Aug. 17. The British Atomic Energy Authority is wend- ing two technical experia to Australia to examine uranium prospects of "our- rent Interest", the acting Supply Minister, Sir Phillp McBride, announced.
The visit is In conncation with discussions between The two countries ол
Australia's
uranium prospects and disposal of uranlum oxide from Incal SOUTEEM,
the
Minister sald that experts were leaving
Tho
the UK. on September 7 and would Inspect the Mary Kathicen fense in Queensland
the and Alligator River area In the Northern Territory.China Mail Speclad
Singapore
left both the House" and the employment" as a permanent the end of July several kundred Stock Market
pres mystiled about the situa-way of life. The iden was full tion and plans,
the Reading between and recalling his attitudes at various press conferences, how- ver, a rather startling though Untative conclusion Closing prices ruled 5 to
emerges: The market Mr Butler contemplates hoving lower. punts
three opened unchanged to up
"slump of sorts, but one points: New Orleans cipsed up accompanied by "full" employ- one to off onx point..
At present the British public Speculative hiterest switched to the faster-moving commbdi-is consuming too much and ex- tics like rubber,
Cocina, coffe Porting and grains.
ment."
41
for sings Play
agre
co-
miners controlled by Catholie
Singapore, Aug. 18.
1oday quolt/ the
The Netherlands is facing the future
Brokers buffled with a slightly but determined expression. following, stock pricest According to the Amsterdam UP Bureau, Prof. G. Brouwers of the Economic Affairs
Ministry made a report last month which British sets forth the problem.
about the Cabinet's of difficulties in a world com-trade unions were striking."
nitled to the idea
th amount of
and lines ertain
ment" is d 1herefore good for everybody.
with It Ma Butle
Lord Beveridge, he is not saying so out loud. One possible reason is that he needs the full operation of it lot of people whe are far from being sold on Lord Another Beveridge's theory. possible reason is that he may the old- have to fall back on too attle. This
"deftation"
of private style cessive consumption, especially incomes in order to
Jower duruble
goods, increases
Britain looks ahead The New York Cotton Ex-Britain's imports change Service Bureau estimated goods badly needed fer export with rome uneasiness into the the leading Mr Butler is appealing to the of all
middle domestle
distance, consumption
their loons Continental countries seem un Lo reduce raw culton in July at 620,000 banks bales.
with the slow and This compared
concerned moderate progress experienced 541.000 bates used in the same
time last year.
Estimated consumption
the 52 weeks
with
{X-
and diverts ite
for New York Sugar
of the 1954-55
season was 8,889,000 bales com- pared with 8,570,000 bales con- sumed in the preceding 1953-54
season.
Trading volume and open in-
terest
were:
Month October December March Muy
*July
Volume Open laterest, contracts,
25.300 370,400 40,000 TEA GOB 20.500
327,000 31.100 350,100
17.100
1,400 121,000
1600
23,70
Market
Domestic No 6 sugar futures closed unchanged to 4 points higher with sales of 28 con-
tracts.
in 1955.
Rome Report
Italy, alone, according to the Rome Bureau of United Press is arguing over private enter- prises. New York. Aug. 18.
Rome reports: futures "Econonfe circles are won- World No 4 sugar
exactly what role the In the Exchange today closed today unchanged
to 4 dering
Antonlo points lower with sales of 719 nov Premier, Signor
Segni. will leave to private enterprises. His reassurances to businessmen in his speech be- DUSIT
Parliament on July 13 fore have thus far failed to inspire much conviction.
is birendy Slate *The
in various enter- in shureholder Evening-up operations
World nearby September dominated prises which, following the irade
I. world futures. War tumbled more or less to into bankrupcy and had to be posted Prizes of futures closed today Intentions
through against September deliver
government rescued
These
varlous in- advances. contracts,
dustries
eventually or were ganised into an institute
reconstruction (IRL) industrial which is linked with the con- federation of Industrialists, private enterprise set-up.
1490,000 2,855,300 kalex
October
December
Total
NEW YORK
na follow-
Spol
October
December
March
May
July
October
December
34.000
33.30 3.18 23.154 33.37
32,311
NEW ORLEANS
Pricts of futures closed today
as fellows
Spul
Octuber
December
March
Jule
December
May
October
113
were
Most of the activity in the domestle contract also centred in September with 04 con- tracts posted against business in actual transaction. Futures:
Contract No. 4 (world)
1
Gopt.
Nov.
3.21 3,20
Mar.
3.21
May
3.21
$23.00
Juty
3.21
Spot-teenis per 1. fob
33.80
Cuba)
3.20
33.70
Contract No. û
32.30
32.2
Sept.
-5.31.07
Nov.
5.01
Mar.
6.38
May
0.40
Collon
cruzchvs
futures pur
klo
closings, were
Spot-(vents per 1b, cif
NY ex-duty)·
G.00
ሀና
United Prosa.
follows:
Oel.
35.30
Dec.
70.00
Mar
33.60
May
34.70
the
SAO PAULO
In the United States, average price of middling cotton at ten designated spot markets was 33.01 cents...Sules at these centies totalled 18.065 baics.
KARACHI
LONDON. METAL
PRICES
London, Aug. 17,
a
"One of the moves which causes alarm in business circles is the proposal to create a new would detach ministry which
and
the IRI from the confederation lake over the sole super- vision of these semi-government cwned Industries.
0
"This would give the Govern- ment effective controls over larger share of heavy industry than any other European
BOV- ernment has."
Quesaing Batu Lintang Rubber........ $1.00
Borneo Petroleum Synd Consolidated Tin Smelters... Fraser, & Neave Ord. ...m Frazer & Neave 7% pref... Hongkong & Shanghai Bank
longkong Tin Rumpus
Lunas fubber Estates
Malayan Breweries
Petaling Tin
The Netherlands cannot stand still, Prof. Brouwers said, be- cause its population is increasing by 100,000 annually and useful employment must be found for the increase. Says Amsterdam:
Is The Netherlands problem apparently how to increase the New Scrandah Rubber total production of goods and Raffles Hotel services within the next 15 years singapore Cold Storage by some 13,000,000,000 guilders South Brillih Insurance (zbout US$3,500,000,000). This Stralls Trading
fali upon industry for Strata Steamship will
United Engineeri agriculture can hardly be step-wearne Bras ped up further. United Press.
And Wheat
HONGKONG Policy Is Needed
STOCK EXCHANGE
(From Our Correspondent)
Business on the Hongkong Stock Exchange this morning
amounted 10 $800,000. Noon rates and the morning's transac
tions:-
By Sydney Gampell
London, Aug. 16.
The new United States cotton export policy means that the artificially held export price will be undersold by 1,000,000 bales of low quality United States cotton (plus any additional quantity that may be surreptitiously sold on the ground or pretext of going out of condition) as well as by all the American type cotton grown elsewhere, all the United States cotton dumped by various forms of "aid” and by the additional output of 10 1740 synthetics stimulated by the artificial-cotton
price.
SHARES BUYERS NELLERS BALES
GOVT. LOANS
3155 (1948)..
DANKS
BK Bank...
INSURANCES
UBlog
מן
1745
43
1023
10.40
Waterboat... 22.00
Lombard Underwriters
SHIPPING ·
DOCKS, ETC.
K. Whort ... k Dock
*** 27.30 Provident (0) 15.69 Wheclock ... 0.00
LAND, ETC.
II Hotel Hic Land Really
10.30 19.70
7216
...... 2.30
UTILITIES
Tron
..... 24.40
Star Ferry XD 145 Y'mati Ferry 117
C. Light (0) 22.80
30000 1215
64 1760
The latter still holds as the pivot of world cotton prices as world importers still have to pay it in the last resort. It is being eroded as the [email protected] supplies which are bought (as distinct from donated) at it are marginal and shrinking. It might hold until the Presidential election in Nóvember 1956.
0 1000 69 8.70 1000 9 1.78 2000 8.80 1000 or 8.83
1300 8.00
73 500 6.73
1:0
C. Light (N) 17.60 Electric
41% 424
27125 or 2.278Lain
2500 ga 24.30
Meanwhile it helps to main in the past year disposed of its the American, and world butter and cotton oil surpluses business boom: total form
by slaughtering their price: for Income is following but
the butter it got one-tenth what it had pald; on the cotton oil it lost an average of soven and a half cents a pound.
600 de 24.40 income per farmer holds up as 1000 24.50 the number of farmers is also
falling.
150 m 117 DO (70 117 2000 22.00 103 22.00 4200 (223
300 or $7.00 500 of 4112 1500 60 43
500 (0 12.23 Macna Elea. 11.30 11.70 Telephone... 3291 3344 3500 33
646 3295 500 33
The "notice" that the United States Intends to compete more
there.
of
It accepted these losses to
aggressively in cotton exporta move the surpluses only because may incline other exporters to it satisfied itself that it had clear out all possible surpluses found additional outlets without to take advantage of the United disrupting normal world trade, States shelter while it is stillIts cotton might eventually find on outlet na "ald” to Russia and other Communist countries. Some Shelter
Stranger things have happen- Something depends on how ed. But present cotton and such countries 14 Brazil and wheat support policy is obvious
must be bankrupt and Pakistan tackle their internally inflations which, in turn, give replaced by something saber the United States some shelter. after November 1850 though not before. --- China Other countries will recall how probably the United States Government Mail Special,
40/0
30/3d
$1.07
$0.50
INDUSTRIALS
Cement
$023
1000
..... 334% 34!1⁄2 500 / 33.75 2000 33.50 1000 33.74
↑
1.70
500 4 34
STORES, ETC.
$2.25
Dairy
$3,35
Watsen.
22.40 22.00 500 EN 22.70
15.00
$1,70
$4.00
COTTONЯ
$2.35 $1.67
Textile Corp 0.30 5.00 Nanyang
8.70
$23 $13
$37.00 MISCELLANEOUS
Yangiaz
$2.72
Allied
-China” Mail“ Special.
A. Rubber 23135
100 2.15 Itubber Trust 3.05 335 9070 kr 3.10
7.00
....... 6.03 5.75
New York Stock World Rubber
Market Prices
New York, Aug, 17.
Markets
Singapore, Aug. 17. The market was steadier on
advices Overscan
in the afternoon
Stock market traders, tired of recent dullness, better turned the spotlight on long-neglected rails late eased today and this lifted the tone of the whole market. further liquidation.
but on
Future closings were: No. 1 rubber per ib. Sept. 1371-1328 Oct. 1881-137
EVERETT
LINES
EVERETT ORIENT
LINE
Fart Regular Freight Refrigerator Pamonger Servicn Loading for singapore, Penang, Rangoon, Calcutta and Chittagong.
*
Arr: Eept. 11
Salle Sept. 12
--- Oct,
-,/- Oct.
3
-Oct.
- Oct,
15 26
15 Oct.
- Oct.
・
Arr. Sept. 4
5 Balls Sept. -Sept, 15 Sept. 16 -- Sept. 28 -Bapt. 29 -- Sept. E
Loading for Kobe, Onks, Nagoya, YokokaNLA
"NOBKVERETT
**REDEVERETT"
"NOREVERETT"
"BRADEVERETT"
21
Commonwealth Elec. Consolidated Edison Continental Oil of Del.
4434
"LENEVERETT"
67
43
Continental Sleei
301
Cuban Amer. Sugur
TEK
Spat rubber unbaled...
No. 3 rubber her th. Sept. 13-15415 No. 344 No.
123-124
12015-130
Curtis Wright.
222
Blanket preso
Dininond Alkali
40
No. 1 pale crepe
1301-137 10215-10315 137-145
Dow Chemicals
B146
Dupont de Nemours (xu.) Eastman Kodak
21895
5012
They bit rail prices up point or more in many instinces ICAVIDE
them ncar
a pont Santa Fe, higher on average. Baltimore & Ohio, Kansas City Central Southern, New York ond Union Pacifle rose a point to two points.
The enthusiasm carried over into industrials but only Богде
losses prevented
Crane Co..
E Faso National Gas twoje atirond that up from closing higher on
overage.
American Telephone, off 1 points on details of its new Jersey $638,000,000 financing, Standart, down a point, und Allied Chemical, off 4, weighed on the average.
Bethlehem Steel, on the other hand, ran up several points.
issues traded, Of the 4,321 however, there were 459 lower while only 398 closed higher.
Trading continued at a slow pace atthough volume pleked Turnover up on the upturn reports for the session totalled 1,670,000 shares compared with 1,520,000 yesterday.
Bonn Report
"the in
be-
an
General Foods
Hayden Chemical
Inland. Steel Co.
John-Manville Co. Kennecott Copper tiggett Moyers Tob. Co. Lockheed Airerast Loows Incorp.
Lone Star Cement Co. Louwvale & Nashville. H. Lowensles & Sons.
Megabt Iron Carp,
Minnesota Mining
NEW YORK
Futures closed today 20 points
22% higher to 30 points lower with
sales of 677 contracts.
Erratic action was coupled with arbitrage operations against the London market and adjust- mente of speculative accounts following the recent sharp rise.
Mar
LONDON
at 39% pence. Prices;
42.60
"BRADEVENETT"
"LENEVERETT" "AĘBEVERETT"
LIMITED PASSENGER ACCOMMODATION All the above subject to aïtåration without paties.
EVERETT STAR LINE
FAST REGULAR FREIGHT REFRIGERATOR SERVICE
"
Loading for- Singapère,
Port Swettenham,
Colombo, Bahay, Karachi & Persian Gulf Ports.
It Port Leading
Arr. Sept. 9
-
Sept. 7
- Det.
14
-- Nov. 11
Loading for Kobe, Osaka, Nagoya,
Art, Sept.
-- Sept. 19
-- Oct.
30
-- Nov, 1
- Nov, 20
Salle Aug. 19 -Bept. 10
**** Bept. :-
- Oct. 15
Nov. 13
Yokohama
Salis Sept.
- Sept. 20
* Oct. 20
-Nov
***** Nov,****27
LIMITED PASSENGER ACCOMMODATION
Family Finance Corp.
2315
General Electric
General Motors Gen. Pub. Vill. Gilletta Safety Razor Goodrich (B. F.) ca. Goodyear Tiro.
225
381
Interchemical Corp. Int'l Bainers Machines Int'l Harvester International Nickel (xd) International Paper Int'l Tel & Tel
484%
405
30%
10014
The spot market ruled dull with factory Interest reported practically nil. Spot No. 1 Rss were quoted at 46% cents pound. Futures:
*STAR BETELORUSE”
Д
*STAR AKCTURUS"
"THAI"
"STAB ALCYONE”
12014
Rept.
40.00
"LAG"
072
453/
Dec.
May
July
41.70
"THAI"
Sept
40.00
"ETAR ALCYONE"
"STAR BETELGEUSE"
The market was uncertain to- day; spot closed a shade easier
"STAR ARCTURUS",
No. 1 Res spat
2015-30%
Settlement house term:
Exchange
National Bleel Corp. New York Central Olin Mathiodon Olts Elevator
07
Sept.
39-3934
401
Oct.
0735
Oct/Dec.
302-30-14 38-7814
110
Apr/June
Pacific Ga
BI
Pacifle Western Oil
40%
w
14.10 Feas, Salt Co.
Pan Amerionn Airways $62.00 Paramount Picture
101
Oct.
403%
£5.44} p 15 Morr
163.50 | Philiper Petroleum
58.93 Brugter & Gamble Ca 151.02 | Pubilcker Industries
10394
Para Ollage
23
Hadlo Corporalion
100
Republin Steel...
3954
Reynolds Metal
tola
smell on Co....
-243
Saint Rex. PADET
Sinclair Oli
50
BB
20%
Rocony Vacuum
02
101
National Distillers
Hoggman Machinery followed Miton Development Curtis-Wright in the netive Monsanto Chemical Co. list. It rose sharply in early Motorola Ir
Montgomery Ward
dealings ON
increased National Cam Rog. “A” dividend announcement but National Datry Food. finished more than a point lower National Lead on proДt-taking.
Stock New York bond volume was $2,440,000.
American Stock Exchange Online Glass
The Bonn Bureau West German experts are
that the production in loved crense has slowed down, though it is still edging upwards. This removes the much-feared danger of the German Ing "over-heated my becom "Chief anxiety," Benn reports, appreaching bottleneck The Un market was steady cool production. Like Great
has had while other metal markets were Britain, Germany quiet. Prices closed today in swift expansion of industry with sterling per long ton as follows! which coal production was un- sellenable to keep abreast. There are and no coal stocks available 757 702 German consumers are literally 300
living off each day's production."
The Transport Ministry is try-in bonds ing to persuade coal producers take adequate steps to pro- vide the railways with coat for their autumn traffle peak. Other consumers will have to bolster their supplies by buying from the United States.
The market was errotic and governed by conflicting rumours about export duty announce Tin, spot ment. Prices closed today in rupees per mound as follows:
4. Sind roller-ginned ......................... 200-FNT Sind roller-ginned
saw-gizined
buyers
100
म
05/0
9070
Zinc Zine
3+monfli Copper, Apol
3-month Louts 2nd Lead 2nd hal Nov, 2nd half AUR. 2nd
Nov, half
100
2054
to
BOY
jot
-United Press.
United Press,
280-ENT Punjab roller-ginned
saw-ginned
London Foreign Exchange
New York Montrend Amsterdam
Copenhogona Tabon
PATIE
nkfurt
London, Aug, 17,
2.7834-278-11/19
1080)
NEW YORK METAL
FUTURES
According to the Paris UP Bureau, the boom in France is continuing almost monotonously,
"Well into the second half of 1055 the steel industry will show, Paris "production," mpunting New York, Aug, 17
wired. "So will motor
cars Prices of nietal futures' closed today in cents per lb, as follows: while the stock exchange shows 98.25 no foverish signs but a general. 38.28 healthy bullichnom,
Lead". August
Haplomber 1:1/10 地 Adiet
September Zine - Aŭgustyna September
(80-11,003, Visited Prost
Copper Aurunt,
Beptember
Brussels Report
|
volume was 540,000 shares. Dow-Jones closing average 30 industrial 20 rail 15 utilities
stocks Comm. fudure price mdox.... CLOSING PRICES Alden Inc. Acy.
Allied Chemicals
Allied Milis Ino,
Allis Chalmers. Americon Airilno
American Cyanamide Co. Am. Mach. dry. American Molat American Bolling American & Tol
HolowingArnau Baltimore & Olio Bendix Aviation, Corp. Bethlehem Stool:.. Boeing Airplane
Burroughs_Ada idachina Norden (The) Co Canadian Pačitle: Camo L.) Co.
Everwm Corp.,
Brussels ARVE Belgium's Chile Copper economy is riding along 4" Uite
Chrysler Motor
Bouth Porto Rico Sukar Southern National Gas Southern filiway (Com.) Biandard Brandsi
Standard Oil of N..
Btudebaker-Packard Corn.
61% Tide Water Amin...:0}). 41 Tweaky Century Fox Fim 14416 Union Carbide
Big Funlad Aleeratt:
112.B. GypoUTT Fiks. Une Co. 1916 1,8% Kubber (384 | 120), Bowling
08k West VAR PAID 84% Woolw
Jan/Mar.
General markets, cit basis, ports: Sept.
Estate crepa thick and
thin
AMSTERDAM
39-39%2
-384-30
unquoted
The market was quiet. Prices 44closed today in guilders per
kilogram, clf Sept. as follows:
No. 1 rubber
No,, 'rubber
No, & rubber
No. 1 crepe
3.80 buyers
3.50; buyers 2.30, buyer
-Unjibd Pron.
change Rates
All the shove subject to alteration without notice.
EVERETT STEAMSHIP CORPORATION S/A
. (Incorporated in the Republic of
Panama with, Limited, Liability) + Chinese Department: Telephone 28293. Queen's. Buliding, Telephone - 31206.
MESSAGERIES
MARITIMES
[P.O. Box 33 Queen
FAST PASSENGER/FREIGHT SERVICE..........
""LAOS" Bukihow was done in the local "VIETNAM" 781% unomes Texöhange market
morning at the following rates
U.B. dollar Iver 31).
Barling notes (pe, dis Australian notes:(per ()}}BRIE Indonerian rupiah (per 100)””, Bam Lions (per 100)
Bingapore (Balta) mao-Cisna '-plastros (per 100)
thi
"DGNAI" "MEINAMA.
Bailing Bept, 10th
sailing Det. 8th
ERVICE
salling Aug. 19th: sailing Sept. 21st